|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.9100 - 0.9100|
|52 Week Range||0.7800 - 1.6800|
|Beta (5Y Monthly)||0.47|
|PE Ratio (TTM)||7.34|
|Forward Dividend & Yield||0.06 (6.47%)|
|Ex-Dividend Date||May 06, 2020|
|1y Target Est||N/A|
Today, Direct Energy Business announced a contract with the State of California's Department of General Services (DGS) to provide 30 billion cubic feet of natural gas to more than 180 government institutions annually. Direct Energy Business was awarded the DGS 2020 Full Requirements North and South Contracts, which includes facilities throughout the state. Direct Energy Business will provide natural gas management and related services for the next three years starting in July 2020.
NEW YORK/LONDON, Feb 13 (Reuters) - The dollar rose and global equity markets slumped on Thursday after a new methodology that boosted the coronavirus death toll in China unnerved investors, curbing a rally that had lifted U.S. and European stocks to a series of record peaks. Chinese officials said 242 people died in Hubei province on Wednesday, the biggest daily rise since the virus emerged in the provincial capital of Wuhan in December. The jump in reported cases halted a rally that lifted Wall Street's three main gauges, indexes for pan-regional European shares, Germany's DAX and Canada's S&P/TSX index.
The British pound and U.K. government bond yields shot higher Thursday in reaction to the surprise resignation of Sajid Javid as chancellor, as markets anticipate more spending from the Boris Johnson-led government.
Centrica stock plunged on Thursday, as the British Gas owner swung to a heavy loss last year due to the new U.K. energy price cap and falling gas prices.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Centrica Plc became the first energy company to book a major writedown on production assets in Europe as the global natural gas glut slashed valuations on both sides of the Atlantic.The U.K.’s biggest energy supplier to homes followed oil majors from Royal Dutch Shell Plc to Chevron Corp. in feeling the pain from a worldwide slump in the heating and power-plant fuel that’s sent prices to their lowest level in a decade in Europe.Centrica booked a net exceptional charge before tax of 1.1 billion pounds ($1.4 billion) for a lower value of its exploration and production arm, as well as a stake in U.K. nuclear plants. The writedown also includes restructuring costs of 356 million pounds.While gas is preferred to coal as a power generation fuel because it is much cleaner to burn, there are no signs of the glut coming to an end anytime soon. Nations from the U.S. to Australia are exporting record amounts of the commodity at the same time as the coronavirus is curbing demand in China, sending prices down further.“The gas market is very oversupplied right now because of associated gas from shale oil in the U.S. and lower levels of demand in Asia and to trump it all the coronavirus,” Centrica Chief Executive Officer Iain Conn said on a call with reporters on Thursday.The gas slump adds to the company’s woes after millions of customers have left in the past few years and lawmakers clamped down on prices utilities can charge their customers.As Conn, a veteran oil man, is leaving his role as CEO later this year, Centrica is selling its North Sea oil and gas company Spirit Energy Ltd. It has also put up for sale its 20% stake in Electricite de France SA’s U.K. nuclear plants. Both disposals “face headwinds and uncertainty,” according to Berenberg Bank.While the company plans to sell Spirit by the end of this year and is expecting offers by the end of March, it probably won’t be able to dispose of the nuclear stake by then, Conn said on the call.Conn added he was expecting the market to be surprised by the “blunt view” of gas prices the company was presenting and highlighted the irony that Centrica is attempting to sell these businesses now. He said he expected analyst to revise down their own commodity price curves too.Centrica is expecting gas prices to stay “weak” for the rest of this year, Conn said, which will lead to flat earnings at best. While the slump has clearly hit the value of its upstream assets, lower gas prices are positive for the energy supply business because it can buy fuel in the wholesale market at a cheaper rate. After the planned asset sales, the company will be more predictable, Conn said.Shares plunged as much as 18%, the most since July, after full-year earnings missed estimates. The company also cited the negative impact of the U.K. energy retail price cap at the same time as the departure of homes continued, although at a slowing rate.Read more here on what the analysts are saying about CentricaAcross the Atlantic, Chevron posted its steepest loss in a decade on Jan. 31 after billions of dollars in writedowns on the value of its North American gas fields. On Wednesday, Antero Resources Corp. wrote off more than half a billion dollars from its balance sheet as plunging prices for natural gas erode the value of its assets and investments.While Shell in 2019 enjoyed one of its strongest years trading gas ever, its fourth-quarter results included a charge of $1.9 billion, primarily on the lower value of its U.S. unconventional gas assets and a drilling rig joint venture.(Updates with chart on customer losses after 10th paragraph.)To contact the reporters on this story: Lars Paulsson in London at firstname.lastname@example.org;Rachel Morison in London at email@example.comTo contact the editors responsible for this story: Reed Landberg at firstname.lastname@example.org, Lars PaulssonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A spate of new coronavirus cases dented enthusiasm for European stocks on Thursday. Up for three straight days, the Stoxx Europe 600 (XX:SXXP) dropped 0.8% to 427.70. U.S. stock futures (ES00) also fell sharply, suggesting the Dow Jones Industrial Average (DJIA) may reverse much of the 275-point gain that led to its seventh record close of 2020.
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On...
Sprint (NYSE: S) and Direct Energy Renewable Services announced today that all of Sprint's more than 800 Virginia locations will now be served with 100% Renewable energy. This agreement includes Sprint's retail locations, cell phone towers, and Sprint's east coast corporate office in Reston, Virginia. These facilities will use more than 88,000 MWh per year. For Sprint, the effort is part of the recent corporate commitment to be carbon neutral across all of their operations by 2025.
Today, Senator Jeremy McPike and Delegate Mike Mullin introduced the Clean Energy Choice Act so that competitive suppliers may continue to deliver renewable power to Virginia customers with strict oversight by the State Corporation Commission. This 100% renewable purchase option is currently being threatened by Dominion's pending application for an 100% renewable energy product which could shut down sales by competitive suppliers to new customers under Section 56-577 A 5 ("Section A 5") of the Virginia code. Direct Energy supports The Clean Energy Choice Act which will allow both competitive suppliers and Dominion to offer renewable products to all customers and will allow customers to more easily combine the usage of multiple locations for renewable energy, giving businesses more options for a holistic energy solution. Lastly, the SCC will be empowered to review and remove licenses of unscrupulous market participants and to provide tools to customers to help them select a licensed Competitive Service Provider.
British Prime Minister Boris Johnson promised on Sunday "to get Brexit done", with his Conservative Party making an election pledge to bring his deal to leave the European Union back to parliament before Christmas. With Britain heading to the polls on Dec. 12, the governing Conservatives rolled out an election manifesto that promised more public sector spending and no further extensions to the protracted departure from the EU.
British Prime Minister Boris Johnson will promise to bring his Brexit deal back to parliament before Christmas when he launches his manifesto on Sunday, the cornerstone of his pitch to voters to "get Brexit done". Voters face a stark choice at the country's Dec. 12 election: opposition leader Jeremy Corbyn's socialist vision, including widespread nationalisation and free public services, or Johnson's drive to deliver Brexit within months and build a "dynamic market economy". Opinion polls show Johnson's Conservative Party commands a sizeable lead over the Labour Party, although large numbers of undecided voters means the outcome is not certain.
Investing.com -- Here is a summary of regulatory news releases from the London Stock Exchange on Thursday, 21st November.